The Great Depression (1929–39) affected nations differently.  By 1933, industrial output had plunged 30–50% in many countries, and unemployment soared into double-digits (Romer 2003).  Yet the timing and strength of recovery varied dramatically.  For example, Sweden and the United Kingdom were largely back to or above 1929 output levels by the mid‑1930s, whereas the United … Continue reading Comparing Recovery Strategies in the Great Depression